Tony Elumelu

Nigeria
Nigerian oil companies set sights on Venezuelan crude

Venezuela's hydrocarbon reserves are not only whetting appetites in the United States. African businessmen are also hoping to grab a share of the South American country's black gold.

Gabon
Libreville seeks refinancing following $1bn deal with Gunvor

In June, the Ministry of Finance obtained a loan of several billion dollars from Afreximbank. It is likely to be used for energy production and manganese processing projects, but could also fuel other ambitions.

Gabon
Algest Consulting discreetly advises government on debt

The consultancy's boss, Ivorian banker Ibrahim Magassa, has just finished reprofiling Gabon's debt. On 25 March, he also organised a meeting between the main regional bankers and President Oligui Nguema.

Gabon
Brice Clotaire Oligui Nguema launches a vast reprofiling of public debt

The transitional president is preparing an exchange of debt securities to postpone this year's financial deadlines. The operation, worth more than FCFA 1,000bn, must be completed before the 12 April presidential election.

Palace Intrigues
Ousmane Sonko, Tony Elumelu, Alassane Ouattara

Intrigues big and small... Every Thursday, Africa Intelligence takes a peek into the corridors of power in Africa and beyond.

SenegalSonko's wife Anna Diamanka pays incognito visit to Paris

NigeriaUBA boss Tony Elumelu's evening at Palais Garnier cancelled

Ivory CoastAlassane Ouattara's private trip to France

Palace Intrigues
Denis Sassou-Nguesso, Nadia Fettah, Rachida Dati

Intrigues big and small – every Thursday, Africa Intelligence takes a peek into the corridors of power in Africa and beyond.

Republic of CongoSassou hosts VIP bankers in Oyo stronghold

MoroccoReluctant Nadia Fettah reappointed finance minister

MadagascarRachida Dati clashes with collections curator over royal relics

Nigeria
Tullow Oil eyes maiden venture in Niger Delta

After 40 years of prospecting in Africa, the British junior is working behind the scenes to acquire a stake in Nigeria's oil-producing region for the first time in its history.

DRC
UBA extends new $65m credit line to Sonahydroc

United Bank for Africa has renewed its financing for the DRC state-owned oil company, but halved the amount it is providing. The funds could be used to purchase petroleum products from Angola's Sonangol.

Nigeria
Tinubu paves way for businessman Samuel Dossou-Aworet in sale of Shell assets

Shell's announcement of the sale of its Nigerian onshore subsidiary is a sign that President Bola Tinubu has made a break with the policies of his predecessor. The buyer, a consortium led by Samuel Dossou-Aworet, had previously failed to get presidential approval.

Benin, Nigeria
Tinubu and Talon entente benefits billionaire Tony Elumelu

The businessman's foundation, which had been affected by the closure of the borders between Benin and Nigeria, is now benefiting from better relations between the two countries since the new Nigerian president was elected last year.